How To Buy Property In Foreign Destinations

Laws that restrict foreigners from purchasing homes in Turkey have recently been abolished. This has increased investment opportunities in this country. New laws also allow investors from foreign countries to buy land up to 60 hectares. One reason why people want to buy properties in this region is price.

Property is cheaper in this country than most countries in Europe. The economy of Turkey is flourishing and as a result the housing market is doing superbly well. The per capita income has more than doubled in the last one decade. This has increased demand for luxury constructions. Last year alone the economy grew by 8.5%. This made it number three on the fastest growing economies of the world. turkey golden visa

The economy is expected to grow further in future. Istanbul is being considered as a host for the 2020 summer Olympics. Turkey is also expected to join the European Union. This will improve the economy further. This makes it an ideal place to purchase homes.

Purchasing houses in this fast developing country is an easy process. The first thing you should do is to identify a house that you would love to buy. You can use the internet to identify good homes or other buildings on sale. After you have found a good place you can then proceed to paying the deposit. This is usually 10-20% of the total cost.

You also need to have a passport and photos of yourself. You should then visit a solicitor who will prepare the purchase contract. If you are not able to travel to Turkey for the purchase you can send an agent. However you need to visit the Notary office to sign a document allowing the agent to follow the transaction on your behalf.

You are required to present your documents to your land office where they are then forwarded to the land registration office in Izmir. The title deed is then re-issued with your name. It is forwarded to your local land registration office from where you can access it through your agent after paying the balance and 4% property tax.

Buying property in Turkey is a worthwhile investment. There are many homes that you can identify in different parts of the country. There are many agents online who can guide you to purchasing houses in this region. The process is quite straightforward and it takes a short time. It is expected that the prices of property will rise with time. This is therefore the right time to invest.



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